NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING AND REPORTING POLICIES (Tables)
|
3 Months Ended |
12 Months Ended |
Sep. 30, 2021 |
Jun. 30, 2021 |
| Accounting Policies [Abstract] |
|
|
| SCHEDULE OF TRANSLATION EXCHANGE RATES |
As
of September 30, 2021 and June 30, 2021, the exchange rates used to translate amounts in Australian dollars into USD for the purposes
of preparing the consolidated financial statements were as follows:
SCHEDULE
OF TRANSLATION EXCHANGE RATES
| |
|
September
30, 2021 |
|
|
June
30, 2021 |
|
| Exchange rate on balance sheet dates |
|
|
|
|
|
|
|
|
| USD : AUD exchange rate |
|
|
0.7214 |
|
|
|
0.7500 |
|
| |
|
|
|
|
|
|
|
|
| Average exchange rate for the period |
|
|
|
|
|
|
|
|
| USD : AUD exchange rate |
|
|
0.7350 |
|
|
|
0.7473 |
|
|
As
of June 30, 2021 and 2020, the exchange rates used to translate amounts in Australian dollars into USD for the purposes of preparing
the consolidated financial statements were as follows:
SCHEDULE OF TRANSLATION EXCHANGE RATES
| |
|
June
30, 2021 |
|
|
June
30, 2020 |
|
| Exchange
rate on balance sheet dates |
|
|
|
|
|
|
|
|
| USD
: AUD exchange rate |
|
|
0.7500 |
|
|
|
0.6891 |
|
| |
|
|
|
|
|
|
|
|
| Average
exchange rate for the period |
|
|
|
|
|
|
|
|
| USD
: AUD exchange rate |
|
|
0.7473 |
|
|
|
0.6742 |
|
|
| SCHEDULE OF CHANGE IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) |
The
change in Accumulated Other Comprehensive Income (Loss) by component during the three months ended September 30, 2021 was as follows:
SCHEDULE
OF CHANGE IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
| |
|
Foreign
Currency Items: |
|
| Balance, June 30, 2021 |
|
$ |
1,085,204 |
|
| Unrealized foreign currency
translation gain |
|
|
64,193 |
|
| Ending balance, September 30, 2021 |
|
$ |
1,149,397 |
|
|
Change
in Accumulated Other Comprehensive Income (Loss) by component during the years ended June 30, 2021 and 2020 were as follows:
SCHEDULE OF CHANGE IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
| |
|
Foreign
Currency Items: |
|
| Beginning
balance, June 30, 2019 |
|
$ |
1,066,998 |
|
| Foreign
currency translation gain |
|
|
200,673 |
|
| Balance,
June 30, 2020 |
|
|
1,267,671 |
|
| Foreign
currency translation gain |
|
|
182,467 |
|
| Ending
balance, June 30, 2021 |
|
$ |
1,085,204 |
|
|
| SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIVES |
The
estimated useful lives are as follows:
SCHEDULE
OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIVES
| Machinery
and equipment |
-
5 years |
| Furniture |
-
7 years |
|
The
estimated useful lives are as follows:
SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIVES
| Machinery
and equipment |
-
5 years |
| Furniture |
-
7 years |
|
| SCHEDULE OF DILUTIVE SECURITIES EXCLUDED FROM COMPUTATION |
SCHEDULE
OF DILUTIVE SECURITIES EXCLUDED FROM COMPUTATION
| |
|
September
30, 2021 |
|
|
September
30, 2020 |
|
| |
|
|
(Unaudited) |
|
|
|
(Unaudited) |
|
| Stock Options |
|
|
59 |
|
|
|
60 |
|
| Stock Warrants |
|
|
111,932 |
|
|
|
135,725 |
|
| Unvested restricted stock |
|
|
59 |
|
|
|
117 |
|
| Convertible Debt |
|
|
23,293,971 |
|
|
|
510,674 |
|
| Total |
|
|
23,406,021 |
|
|
|
646,576 |
|
|
SCHEDULE OF DILUTIVE SECURITIES EXCLUDED FROM COMPUTATION
| |
|
June
30, 2021 |
|
|
June
30, 2020 |
|
| |
|
|
|
|
|
|
| Stock
Options |
|
|
59 |
|
|
|
60 |
|
| Stock
Warrants |
|
|
121,329 |
|
|
|
151,171 |
|
| Unvested
restricted stock |
|
|
59 |
|
|
|
59 |
|
| Convertible
Debt |
|
|
12,416,972 |
|
|
|
439,113 |
|
| Total |
|
|
12,538,419 |
|
|
|
590,403 |
|
|